INDIA- Franklin Templeton Investments has restructured its management team in its Central and Eastern Europe, Middle East and Africa (CEEMEA) and India divisions.
Harshendu Bindal will become president of the Indian asset management on April 1.
Kudva will be responsible for "providing strategic direction and leadership to the firm's businesses in CEEMEA as well as India," according to a company release. Bindal is charged with growing the Indian asset management business.
Kudva said: "Notwithstanding the challenging global environment, strong emerging market economies such as India and those in the CEEMEA region have the potential to grow at a relatively faster pace than their developed counterparts."
Bindal added: "India continues to be a very exciting market with strong fundamentals, and I look forward to focusing on such a dynamic country. We also believe India will be one of the first countries to recover from the global economic slowdown with strong prospects over the medium- to long-term."
Kudva was previously president of the firm's India region and Bindal was senior director for the CEEMEA business. Both will be based in Mumbai.
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